BlackRock: AI could boost demand for blockchains, stablecoins

BlackRock published a research paper titled “The Machine-Native Economy” in which analysts Will Su, Robert Mitchnick, Jay Jacobs and William Helm outline how broad AI adoption could increase demand for blockchains, stablecoins and tokenized claims on computing capacity.

The paper focuses on agentic AI-software that can act autonomously for users-and its need for continuous, low-value payments that happen without human approval. The authors argue current bank and card networks often require manual account setup, identity checks or authorizations that limit fully automated commerce. They also note merchant fees and variable settlement times can make many machine-to-machine micro-payments uneconomic.

BlackRock identifies stablecoins, native cryptocurrencies and tokenized real-world assets as payment options suited to high-frequency, sub-cent transactions between machines. The authors observed that stablecoins may lead transactional use because they combine programmability with price stability, making them practical for routine micro-payments.

The paper describes a potential market for compute capacity as AI training and inference demand grows. Claims on cloud or edge processing could be represented as tokens that are transferable, tradable and usable as collateral. Tokenized compute would let autonomous agents buy processing power automatically and could create secondary markets that institutional investors can access.

The researchers included examples of firms building payment and protocol tools designed for automated agent payments. They reference Coinbase’s x402 protocol and Tempo’s Machine Payments Protocol, tools intended to enable AI agents to pay for online services. They also cite products such as agent wallets and USDC payment tools and an agent payments protocol that supports recurring and escrowed payments.

The authors wrote, “Together, these developments position AI as a structural catalyst for digital asset adoption and digital assets as a potential facilitator of the AI economy.” The paper does not offer specific investment recommendations or timelines, instead describing possible structural shifts toward continuous automated transactions and greater demand for programmable settlement and on-chain instruments.